Here is a summary of foreclosure laws and rules for the State of Florida:
In Florida, lenders foreclose judicially.
Non-judicial foreclosures by power of sale are not used. Because all foreclosures are filed in court, it's particularly important you work with a Florida foreclosure attorney or a Florida Bankruptcy attorney.
Florida instituted a mediation program for foreclosures in 2009. It has largely been unsuccessful. In October 2011, a proposal was made to revamp the program which will require borrowers to "affirmatively opt in to the program upon service of suit papers." Mediation is a way to take cases out of the court system but generally requires a knowledgeable lawyer to help with the process.
Judicial foreclosure works like this:
Lender files a complaint with the court with a request for an order to show cause.
A hearing is held twenty-one days after the homeowner is personally served with the request for an order to show cause. The homeowner doesn't need to be served personally. The lender can publish a notice of the hearing. First publication must be at least thirty-one days before the hearing.
Unlike many states, Florida only requires one notice.
A homeowner has the right of redemption until the clerk formally files the certificate of sale.
Florida is a recourse state.
The lender can pursue a deficiency for up to four years. However, the homeowner must have been personally served in order to be sued. Whether there is a deficiency and the amount is at the discretion of a judge. The homeowner can request a jury trial to have the amount of the deficiency fixed.
Much more information is available throughout this website, but for definitive advice speak to a local attorney.
If you are interested in reading the actual statutes relevant to mortgage and foreclosure in Florida those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.